The NCUA published proposed changes to the 5300 Call Report on Friday, mainly focusing on adding Stablecoin account reporting. Following the passing of the GENIUS Act last year, which enabled credit unions to begin working with Stablecoin and Stablecoin issuers, it seemed likely that the NCUA would create some form of tracking that usage. The NCUA states that the new reporting would “enhance the NCUA’s offsite supervision.”

According to the announcement, the changes would include four key data collection additions:

1. 1. Adding eight new accounts for reporting custody of reserve assets for permitted payment stablecoin issuer (PPSI) third parties.
   2. Adding nine new accounts for reporting cryptographic key custody and control.
   3. Adding five new accounts for reporting direct exposure to PPSIs.
   4. Adding four new accounts for reporting payment stablecoins held on the credit union’s balance sheet.

The NCUA has requested comments on the proposed changes, specifically those concerning “(a) whether the proposed revisions to the instructions for the collection of information that are the subject of this notice are necessary for the proper performance of the function of the agency, including whether the information will have practical utility; (b) the accuracy of the agency’s estimate of the burden of the collection of information as proposed to be revised, including the validity of the methodology and assumptions used; (c) ways to enhance the quality, utility, and clarity of the information to be collected; and (d) ways to minimize the burden of the collection of information on the respondents, including the use of automated collection techniques or other forms of information technology.”

Comments are due to the NCUA by December 8th and can be submitted through the comment portal via the Federal Register.